Some Senate Republicans say they feel uneasy about an exclusive dinner and White House tour offered by President Donald Trump to top investors in his $TRUMP meme token, CNBC reported.
Wyoming Senator Cynthia Lummis, who leads crypto regulation efforts in the Senate, admitted the plan gives her pause. She pointed out that it may cross ethical lines and shows why clearer rules are needed for digital assets.
Details of the Offer
The official $TRUMP token website says the top 220 holders are invited to a private dinner at Trump’s golf club near Washington, D.C.
The top 25 investors will also get a VIP tour of the White House the next day. News of the dinner caused the token’s price to jump by over 50%, pushing its market value to about $2.7 billion.
Lawmakers Speak Out
Senator Lisa Murkowski of Alaska, known for her independent views, said she feels uneasy but noted she lacks full details. She compared the offer unfavorably to charging for a Capitol tour.
Democratic Senator Jon Ossoff went further, calling the memo token event “selling access” to the president and even floated impeachment as a response.
Consumer advocate Craig Holman criticised Trump’s move, saying that despite his claims of being too rich to buy, his actions now suggest otherwise.
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Senators Elizabeth Warren and Adam Schiff asked for an ethics probe, warning that allowing foreign interests to pay for access could breach legal and moral standards.
Calls for Regulation
Cynthia Lummis said moments like this show the crypto world is the Wild West. She urged Congress to set clear ground rules for meme tokens and other digital assets, especially when elected officials are involved.
She hopes to work with colleagues from both parties to craft legislation ahead of a Senate vote on the GENIUS Act, which aims to regulate stablecoins. This bill has already cleared the Senate Banking Committee by a wide margin.
Mixed GOP Response
While a few Republicans voiced concern, most trust the president to follow the law. Senator John Hoeven of North Dakota said he had not seen any violation and expected Trump to act appropriately. Several other GOP senators said they had not even heard about the token dinner.
The $TRUMP coin launch on January 17 drew sharp criticism from lawmakers and crypto experts. They worry about conflicts of interest and the risk of foreign actors funnelling money directly to a sitting president.
As the token’s value climbed, so did questions about who truly benefits when political access is tied to digital investments.
As calls for an ethics review grow louder and senators push for clearer crypto rules, the dinner invitation plan highlights the need for stronger safeguards. The coming weeks may shape new standards for how digital assets intersect with government access.